Key data points
Last release
—
Observation period
2023
Next release
—
Forecast
—
Highest
7.60 % on Dec 31, 2022
Lowest
−9.50 % on Dec 31, 2020
About Philippines Full Year GDP Growth
Services are the biggest sector of the Philippine economy and account for 57 percent of total GDP. Within services the most important segments are: trade, repair of motor vehicles and household goods (17 percent of total GDP); real estate, renting and business activities (11 percent); transport, storage and communication (8 percent); financial services (7 percent) and public administration, defense and social security (4 percent). Industry accounts for 31 percent of GDP. Within industry, manufacturing (22 percent of total GDP) and construction (5 percent) are the most important. Agriculture contributes the remaining 12 percent of GDP.